$ETH posts back-to-back positive months — and May has historically been its strongest.

Ethereum closed April up 7.38%, following a 7.07% gain in March — two consecutive positive months after a rough start to 2025. The recovery is underpinned by concrete structural shifts: staking now locks over 30% of total ETH supply, staking-enabled ETFs are drawing fresh inflows, and the Pectra upgrade has materially lowered the friction for institutions deploying large-scale validator positions.

Historically, May has been one of ETH's best calendar months, with average returns in the 28–31% range. Whether that pattern holds in 2025 depends on whether the institutional staking bid continues to absorb supply — but the setup heading into the month looks meaningfully different from the January lows.